The United States’ long-awaited real-time payments (RTP) system, FedNow, is due to launch any day now. The availability of instant money transfers has huge potential to impact virtually all players in the economy, from financial institutions and corporate giants to online shoppers, small business owners and employees.
In her second story as a Forbes contributor, Rocio Wu draws parallels between US payments infrastructure and the rest of the world, where centralized RTP infrastructure has been up and running for some time now. The result is ten predictions about how the payments landscape will change now that FedNow is live.
How will the FedNow launch affect US payments? Which use cases will gain the most traction? How are financial institutions and startup disruptors rising to the occasion and filling in those critical gaps? Where do the economic opportunities lie?